How Major US Stock Indexes Fared Jan. 7

Good news on the U.S. economy is back to being bad for Wall Street.
The S&P 500 swung to a loss of 1.1 percent after a pair of reports on the economy came in better than expected. The Dow Jones Industrial Average dropped 0.4 percent, and the Nasdaq composite tumbled 1.9 percent.
While the strong reports on the U.S. job market and business activity were good news for anyone worried about a possible recession, they could also make it less likely the Federal Reserve will cut interest rates.
Treasury yields jumped after the reports, and Nvidia and other Big Tech stocks took some of the heaviest hits….



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